Accountants Knowledge

November 2019 Tax Round Up - Vacant land deductions target 'Mum & Dad' developers

Another big month for the profession with the passage of legislation that denies deductions for vacant land (or land with insubstantial buildings) for a range of taxpayers from 1 July 2019 – these measures are predominantly targeted to ‘Mum & Dad’ investors.

And, the re-emergence of the controversial 2017-18 Budget measure to prevent non-residents from accessing the main residence exemption.

More >>>